YES bank is one of the leading commercial banks that offers investment banking, corporate banking and personal banking services in India. This private sector bank was founded in 2004 by Rana Kapoor and Ashok Kapoor has its headquarter in Mumbai, India. It services a wide range of financial and banking products to retail and corporate customers.
YES bank provides the Two Wheeler loan to the salaried and self-employed individuals. This bank has a hassle free procedure for loan application. Apart from that, it comes with an attractive interest rate. The minimum bike loan amount offered by YES bank starts from Rs. 1 lakh and it goes up to Rs. 25 lakh.
Getting a YES bank bike loan comes with following benefits:
YES bank bike loan has a minimum documentation process.
The interest rate for YES bank bike loan starts at 10% to 18% per annum.
It has an easy application and disbursement process.
The YES bank bike loan amount starts at Rs. 1 lakh and goes up to Rs. 25 lakh.
The repayment tenure period for bike loans is 5 years.
You need to fulfill certain eligibility criteria if you want to get a two wheeler loan from YES bank. There is a criteria designed by the bank on passing which you can successfully get a bike loan.
Here are the checkpoints for eligibility that you need to ensure before you apply for YES bank Two wheeler loan:
You must be a salaried employee or a self-employed individual in order to get a YES bank bike loan.
Your age must be between 21 years to 65 years.
Your cibil score must be 700-800.
Your residential stability must be over 2 years.
In order to avail a bike loan from YES bank, you must submit the documents required by the bank. On failing any required document, you can welcome the risk of rejection of your loan application.
Here are the documents which you need to submit to the lender for a YES bank two-wheeler loan:
Filled application form
Proforma Invoice
Passport-size photograph
Identity Proof
Salaried individuals: PAN card, voter’s ID, passport, driving license
Self employed individuals = PAN card, voter’s ID, passport, driving license
Address Proof
Salaried individuals: Utility bills, passport, etc.
Self employed individuals: Utility bills, passport, etc.
Income Proof
For salaried individuals: Salary slips, IT returns, bank statements
For self employed individuals: Bank statements, IT returns, audited financial statements
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BANKS |
INTEREST RATE |
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9.15% to 15.90% |
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Start at 10.65% |
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Start at 11.83% |
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9.65% to 15% |
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10% to 18% |
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10% to 26% |
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Start at 11.83% |
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21% to 29% |
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Start at 11.50% |
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7.75% to 8.35% |
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Start at 10.70% |
4. YES Bank Loan Against Property
There are two ways to apply for YES Bank Bike Loan :
1. Offline Method : By visiting the nearest bank branch
.2. Online Method
Firstly visit lenders website or branch from which you want to get loan
Fill the application form and read all the term and conditions
Attach all required documents with an application form
After submitting form lenders will let you know that you eligible or not for the loan
Contact number : 18001200 toll free number
Email id : [email protected]
The following mathematical formula is used to calculate EMI for YES bank two wheeler loan:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
The minimum amount for bike loan provided by YES bank is Rs.1 lakh and maximum loan amount is Rs.25 lakh.
The minimum interest rate provided by YES Bank for bike loan is 10% and maximum interest rate is 18%.
Yes, age plays an essential factor when it comes to taking a Bike loan from YES Bank. The minimum age of the customer for a bike loan is 21 years and maximum age of the customer is 65 years.
You can contact through customer care number and customer care email id for YES Bank.
You can either apply offline by visiting the nearest bank branch or visit the bank website for a bike loan at YES Bank.
The following mathematical formula is used to calculate EMI for YES bank two wheeler loan:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Here,
P is the loan amount or principal,
R stands for the interest rate per month
N stands for the number of monthly installments
Last Updated on : 11/Feb/2021Know More About
You're eligible for a Yes Bank Bike Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Two Wheeler Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Yes Bank Bike Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 10% - 18% |
| Processing Fees | NA |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Two Wheeler Loans EMI Calculator